Affinity Investment Advisors LLC continued to hold its position in shares of Time Warner Inc. (NYSE:TWX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the media conglomerate’s stock at the end of the second quarter. Affinity Investment Advisors LLC’s holdings in Time Warner were worth $281,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Dedication LLC boosted its position in shares of Time Warner by 14.6% in the first quarter. Asset Dedication LLC now owns 1,729 shares of the media conglomerate’s stock valued at $169,000 after buying an additional 220 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Time Warner during the first quarter valued at about $10,994,000. Ledyard National Bank boosted its position in shares of Time Warner by 251,000.0% in the first quarter. Ledyard National Bank now owns 2,511 shares of the media conglomerate’s stock valued at $245,000 after buying an additional 2,510 shares during the period. Quantitative Systematic Strategies LLC boosted its position in shares of Time Warner by 7.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 19,559 shares of the media conglomerate’s stock valued at $1,911,000 after buying an additional 1,402 shares during the period. Finally, Reliance Trust Co. of Delaware boosted its position in shares of Time Warner by 3.3% in the first quarter. Reliance Trust Co. of Delaware now owns 20,916 shares of the media conglomerate’s stock valued at $2,044,000 after buying an additional 673 shares during the period. 80.02% of the stock is owned by institutional investors and hedge funds.
Shares of Time Warner Inc. (TWX) traded up 0.17% on Friday, reaching $102.11. 1,054,528 shares of the company’s stock traded hands. The firm’s 50 day moving average is $100.79 and its 200 day moving average is $98.82. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The firm has a market capitalization of $79.42 billion, a P/E ratio of 18.94 and a beta of 1.05.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Time Warner Inc. will post $6.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio is presently 29.98%.
TWX has been the subject of several research reports. Jefferies Group LLC reissued a “hold” rating and set a $105.00 price objective (up from $102.42) on shares of Time Warner in a report on Sunday, July 30th. Cowen and Company reissued a “hold” rating and set a $107.50 price objective on shares of Time Warner in a report on Thursday, August 3rd. Evercore ISI cut shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective for the company. in a report on Monday. Zacks Investment Research cut shares of Time Warner from a “buy” rating to a “hold” rating in a report on Monday. Finally, BidaskClub raised shares of Time Warner from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Time Warner currently has an average rating of “Hold” and an average price target of $102.25.
In other Time Warner news, CFO Howard M. Averill acquired 255 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the transaction, the chief financial officer now owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.
About Time Warner
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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